Nirav Modi-fraud-case

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Nirav Modi-fraud-case - Total results - 5
Besides PNB, Nirav Modi defrauded four other public sector banks, used fake invoices with inflated prices to swindle funds
India

Besides PNB, Nirav Modi defrauded four other public sector banks, used fake invoices with inflated prices to swindle funds

Recent developments suggest that state-owned Punjab National Bank (PNB) may have taken the largest hit of the massive fraud by fugitive diamantaire Nirav Modi but other banks too were targeted by one of the biggest banking swindler in India.

PNB fraud: Top bank officials likely to face charges in over Rs 13,000 cr scam, say sources
Business

PNB fraud: Top bank officials likely to face charges in over Rs 13,000 cr scam, say sources

PNB, India’s second-largest state-run bank, disclosed in February that two jewellery groups had defrauded it by raising credit from overseas branches of other Indian banks using illegal guarantees issued by rogue PNB staff over several years.

Nirav Modi scam fallout: Gems and jewellery industry asks bankers not to reduce credit limits in a white paper
Business

Nirav Modi scam fallout: Gems and jewellery industry asks bankers not to reduce credit limits in a white paper

Gems and jewellery industry is presenting a white paper on 11 May on challenges of financing to the diamond industry

PNB scam: PMO steps in, wants agencies to probe into new evidence provided by a whistleblower
Business

PNB scam: PMO steps in, wants agencies to probe into new evidence provided by a whistleblower

PNB had alleged in January this year that its Mumbai branch had fraudulently issued LoU and FLC to Nirav Modi firms in connivance with deputy manager Gokulnath Shetty and other bank officials

Narendra Modi post Nirav Modi: PM's image as an 'outsider' who can cleanse the system has taken a beating
India

Narendra Modi post Nirav Modi: PM's image as an 'outsider' who can cleanse the system has taken a beating

Let there be no doubt that Modi's image is considerably undermined after A Raja's acquittal in the 2G scam and further so with the unfolding of the Nirav Modi scam